Ripple Eyes U.S. Banking Access as OCC Expands Trust Powers

OCC expands trust bank powers to include non-fiduciary services, potentially advancing Ripple’s U.S. banking access plans.

Ripple could move closer to the U.S. banking system after the Office of the Comptroller of the Currency expanded the powers of national trust banks.

The agency confirmed that trust banks may conduct non-fiduciary activities alongside fiduciary services.

The move may benefit crypto firms that have received conditional approval for national trust charters.

OCC Expands Scope of National Trust Banks

The OCC announced a final rule amending its framework for national bank charters.

The rule allows national trust banks to engage in non-fiduciary activities in addition to fiduciary services.

This clarification removes uncertainty around the scope of services such institutions may provide.

Non-fiduciary activities include custody operations that are not tied to trust duties. These services are treated as incidental banking activities under the updated rule.

Firms can hold and administer client assets without acting as fiduciaries.

The crypto sector had called for clearer guidance on this issue. The final rule confirms that national trust banks are not restricted to fiduciary roles alone.

This opens the door for broader service offerings under a national charter.

Morgan Stanley Seeks National Trust Charter for Crypto

Morgan Stanley has applied for a crypto-focused National Trust Bank charter with the OCC.

The move would allow the firm to offer regulated digital asset custody under federal oversight.

It places the bank alongside firms such as Ripple that are pursuing similar approvals.

A national trust charter would enable Morgan Stanley to provide custody services and other permitted banking activities tied to digital assets.

Such a structure offers a regulated framework for safeguarding cryptocurrencies on behalf of institutional clients.

It also signals a shift from limited crypto exposure toward deeper operational integration.

The application reflects broader momentum among major financial institutions entering regulated digital asset services.

As more firms seek trust bank status, competition for compliant crypto custody is increasing.

Institutional participation in crypto markets continues to expand through formal banking channels.

Related Reading: Ripple Prime Eyes Stablecoins to Fix Broken FX Market

Fed Developments on Master Accounts and Regulation

The OCC decision comes as the Federal Reserve reviews proposals tied to “skinny master accounts.”

These accounts would provide limited access to the Fed’s payment rails. Fed Governor Chris Waller said he expects related rules in the fourth quarter.

The proposal has drawn mixed reactions from industry participants. Some banking groups have raised concerns about risk and oversight.

The Colorado Bankers Association warned that such accounts could “open up a window for expedited fraud.”

At the same time, Federal Reserve officials have indicated ongoing work on digital asset regulation.

Speaking before the Senate Banking Committee, Governor Michelle Bowman said regulators are developing rules on capital and liquidity for stablecoin issuers under the GENIUS Act.

She added that authorities will provide clarity on digital asset activities to ensure banks can support crypto services within the regulatory framework.

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